Quite often, legal departments within organizations face challenges that require smart and efficient solutions. Lately companies in North America, Europe, Middle East and Australia have found that outsourcing process that place a pressure on their resources is invaluable. Benefits range from high return on investment, to value additions like increased in process efficiency, and opportunity to widen legal services portfolio. For those unfamiliar with the business model of Legal Process Outsourcing (LPO) industry, here are a few questions and answers.
What Is LPO? How Would It Benefit My Company?
LPO is defined as the process of contracting legal services to third parties, who provide specialized legal services. Small and large companies operating in any industry can outsource their legal requirements to Indian LPOs.Indian LPO service providers work on Contract drafting, Compliance Assistance, Review and Management, e-Discovery, Patent Support, Litigation Support. Additional services are added to this list by the day.
Why Offshore Processing In India Is Right For You?
For the businesses three top benefits from LPO in India are –
Cost savings of nearly 60%, Time-bound delivery of services, round-the-clock legal support and captive pool of qualified legal experts.
When you accept a legal requirement from a client, you would assign it to the expert on your team. This is taken a step further in LPO, as you will assign the legal process to a team of legal experts, who have native knowledge of the subject.
Secondly, Indian legal workers timelines are best matched to US and European time factors, giving every business a distinct advantage.
Thirdly, English is the adopted legal language in India, ensuring every outsourced legal process is delivered in US native English, with required legal perspectives.
How About Quality?
Indian LPOs are primarily founded by legal experts who have prior exposure to the legal systems of the US, by either working there themselves or receiving part of their legal education there. Therefore, quality is never at risk with LPO services in India.
How Will My Company Benefit From Outsourcing To CNS?
When you contract your Legal Processes to CNS, you benefit from:
1) Privacy Protection: We Draw Non-Disclosure Agreement with our legal team upon assignment, ensuring your data remains secure and uncompromised.
2) US Journal Updates: Our legal team is well-equipped with the US – Compliance. This ensures every team member assigned to a process has localized legal information and hence provides accurate briefs.
3) Common Law Knowledge: Native understanding of legal systems in the US or UK.
4) We are able to quick turn around on most of legal processes at roughly few dollars per hour.
5) Our specialist team includes full-bench of lawyers, expert paralegals, coders, Legal documentation specialists as well as Subject experts
Outsource: For Monetary Benefits and Expert Legal Documentation
LPO is expected to expand dramatically, reaching $8.568.5 million by 2020. Both Onshore and Offshore outsourcing is expected to grow at a phenomenal rate. As the global legal industry shrinks into simple outsourced processes, do win the benefits of an early adopter. Just as BPO has been the cutting-edge solution for nearly every industry, LPO is the next business solution curve that will lead you down the path of higher profits, efficiency and diversified legal processing services. Call CNS now, or drop us an email!